$60 million in cash for K-V Pharmaceutical's generics subsidiary Print E-mail
By M.E.Garza   
Friday, 17 June 2011 08:55
Shares of K-V Pharmaceutical Company (NYSE:KV.A) are up in early trading Friday after the company announced that it has entered into a definitive agreement to divest Nesher Pharmaceuticals, Inc., its generics subsidiary.
K-V will divest it's generic business and assets to Zydus Pharmaceuticals (USA), Inc. for approximately $60 million in cash. The transaction is estimated to close during the second quarter of KV's 2012 fiscal year, subject to customary closing conditions.

According to the company, the divesture of the Company's generic business has been an important goal of KV's Board of Directors and Management team.  The completion of this divestiture is an important element of the Company's declared strategy of transitioning to a branded specialty pharmaceutical company focused on women's health.

 

Shares were up as high as $2.70 (+13.45%) in early trading on Friday.




"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

Add this page to your favorite Social Bookmarking websites
Digg! Reddit! Del.icio.us! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!

blog comments powered by Disqus
 

Newsletter